British Airways boss Willie Walsh saw his pay packet rise by a third last year, reflecting his ongoing success in turning parent company IAG around.
The ex-trade unionist has become something of a star in the City after his successful handling of the BA and Iberia merger, and his ability to deliver good returns to shareholders.
His determination to give shareholders their due was highlighted in the annual report, where he warned customers not to expect to reap all the benefits from the oil slump.
“Some of that return must go to shareholders who have supported us through tougher times and a period of significant investment in new aircraft,” he said.
Walsh has recently set his sights acquiring Aer Lingus, of which he was the former chief executive, for the sum of €1.4bn (£1bn).
However the potential merger has met with difficulty, with the stake-holding Irish government demanding stronger guarantees on the links between Ireland’s airports and London’s Heathrow.
Walsh’s pay for 2014 totalled £6.4m once other benefits were added to his salary, up from £5m in 2013. He could have taken home more, but declined a three per cent increase in his basic salary, opting to give it to charity.